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This paper constructs a growth model that is consistent with salient features of the Chinese growth experience since 1992: high output growth, sustained returns on capital investments, extensive reallocation within the manufacturing sector, falling labor share and accumulation of a large foreign...
Persistent link: https://www.econbiz.de/10005123794
find no evidence that fixed investment is the only or main source of ignition for economic growth. …
Persistent link: https://www.econbiz.de/10005123986
and investment. When the share of output that accrues to the owners of natural resources rises, the demand for capital … allocation of capital may, however, enhance the quantity as well as the quality of new investment and sustain growth. Empirical … thereby inhibiting economic growth. The results also suggest that abundant natural resources may hurt saving and investment …
Persistent link: https://www.econbiz.de/10005504629
A quantitative investigation of financial intermediation in the U.S. over the past 130 years yields the following results : (i) the finance industry’s share of GDP is high in the 1920s, low in the 1950s and 1960s, and high again in the 1990s and 2000s; (ii) most of these variations can be...
Persistent link: https://www.econbiz.de/10011083657
-ante returns on investment. …
Persistent link: https://www.econbiz.de/10005661688
investment and lead to social optimum, or call for continued regulatory intervention, depending on the resulting wholesale …
Persistent link: https://www.econbiz.de/10011083224
investment (FDI) and the service sector; a reduction in tariffs applied to the rest of the world; and the imposition of hard …
Persistent link: https://www.econbiz.de/10005136673
We use time-series methods to estimate a simple aggregate supply and demand model in order to analyse the comparative performance of fixed and flexible exchange rate systems and test competing hypotheses designed to explain shifts between exchange rate regimes. The paper provides a coherent...
Persistent link: https://www.econbiz.de/10005136700
This paper empirically tests the link between trade openness and enterprise restructuring in Bulgaria. It belongs to a recent line of work in the empirical trade literature that investigates the effects of trade policy on firm behaviour. The trade liberalization following the 1991 economic...
Persistent link: https://www.econbiz.de/10005662077
We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that …
Persistent link: https://www.econbiz.de/10009209829